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Press release from PR Newswire

CoreLogic® Releases Fourth Quarter 2011 Multifamily Applicant Risk Index

Wednesday, January 25, 2012

CoreLogic® Releases Fourth Quarter 2011 Multifamily Applicant Risk Index14:51 EST Wednesday, January 25, 2012?Fourth Quarter 2011 Index Up Three Points Year Over Year?SANTA ANA, Calif., Jan. 25, 2012 /PRNewswire/ -- CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that CoreLogic SafeRent®, provider of the nation's leading suite of screening and risk management services designed for the multifamily housing industry, released its fourth quarter 2011 multifamily applicant risk (MAR) analytics. The fourth quarter MAR Index value increased three points from the previous two years showing a higher renter credit quality through the end of 2011.(Photo:  http://photos.prnewswire.com/prnh/20120125/SF41771)(Logo:  http://photos.prnewswire.com/prnh/20100609/CLLOGO)The MAR Index for fourth quarter 2011 is based exclusively on applicant traffic credit quality scores from the CoreLogic SafeRent statistical lease screening model (Registry ScorePLUS®) and is updated quarterly to provide property owners and managers with a benchmark against which to compare their portfolio's performance. With this unique applicant risk index, property managers and owners are able to compare their applicant credit quality trends with that of the average MAR Index trends. This comparison indicates whether their portfolio is performing above, below or at market levels with respect to attracting and securing applicants with higher credit quality and an increased likelihood of fulfilling their lease obligations.When compared to fourth quarter of 2010, the MAR Index increased three points in overall national renter credit quality, indicating a slightly better applicant pool. When comparing applicants for one- versus two-bedroom units, the MAR Index is slightly higher for one-bedroom units at 101, compared with 100 for two-bedroom units in the fourth quarter (see Graph 1). The fourth quarter 2011 national MAR Index, which includes studios, one-, two-, three- and four-bedroom units (BR), was 101. This is a three point decrease in overall national renter credit quality from the third quarter value of 104, largely reflecting seasonal fluctuation typical of lower applicant traffic periods of first and fourth quarters. Regionally, the South and Midwest had the lowest MAR Index with values of 97. The Northeast continues to have the highest MAR Index with a value of 110 (see Table 1).Table 1: Regional Multifamily Applicant Risk Index DataRegionQ4 2011Q3 2011Change from Q3 2011 to Q4 2011Q4 2010Change from Q4 2010 to Q4 2011Midwest97101-4952Northeast110114-41082South9799-2943West107108-11061U.S.101104-3983From a Metropolitan Statistical Area (MSA) perspective, the three MSAs with the leading decreases in the MAR Index were Buffalo-Niagara Falls, N.Y.; Miami-Fort Lauderdale-Pompano Beach, Fla.; and Phoenix-Mesa-Scottsdale, Ariz.; with decreases of three, one and one point, respectively. The three MSAs with the leading increases in the MAR Index were San Jose-Sunnyvale-Santa Clara, Calif.; San Antonio, Tex.; and Salt Lake City, Utah; with increases of five points (see Table 2).Table 2: Metropolitan Statistical Area & Multifamily Applicant Risk Index DeltasMSAs With Leading DecreasesQ4 2011Q4 2010Change from Q4 2010 to Q4 2011Buffalo-Niagara Falls, N.Y.9295-3Miami-Fort Lauderdale-Pompano Beach, Fla.99100-1Phoenix-Mesa-Scottsdale, Ariz.9495-1    MSAs With Leading IncreasesQ4 2011Q4 2010Change from Q4 2010 to Q4 2011San Jose-Sunnyvale-Santa Clara, Calif.1291245San Antonio, Tex.92875Salt Lake City, Utah95905  NOTE: MSAs are selected from the Top 50 MSAs based on population and applicant volume. Understanding the Multifamily Applicant Risk Index (MAR Index)The MAR Index is published quarterly by CoreLogic SafeRent. It provides trends of national and regional traffic credit quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations. A MAR Index value of 100 indicates that market conditions are equal to the national mean for the index's base period of 2004. A MAR Index value greater than 100 indicates market conditions with reduced average risk of default relative to the index's base period mean. A value less than 100 indicates market conditions with increased average risk of default relative to the index's base period mean. The MAR Index is derived from the statistical screening model from CoreLogic SafeRent, which is the multifamily industry's only screening model that is both empirically derived and statistically validated. The statistical screening model was developed from historical resident lease performance data to specifically evaluate the potential risk of a resident's future lease performance. The model generates scores for each applicant indicating the relative risk of the applicant not fulfilling lease obligations. A lower score indicates a more risky applicant.CoreLogic SafeRent provides the nation's leading and most innovative suite of screening and risk management services designed for the multifamily housing industry. CoreLogic SafeRent offers a single source for resident screening services, renters insurance programs, analytics and automated lease and document generation. Landlords and property management companies who manage over 6 million apartment homes, rely on CoreLogic SafeRent every day to assist them in screening residents to meet their community standards and maximize profitability. CoreLogic SafeRent leads the industry in innovations and enhancements designed to make the decision process faster, easier and more accurate. To receive the MAR Index data for your Metropolitan Statistical Area or if you have questions, contact CoreLogic SafeRent at marketing@saferent.com. About CoreLogicCoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has more than 5,000 employees globally. For more information visit www.corelogic.com.CORELOGIC, the stylized CoreLogic logo, SAFERENT and REGISTRY SCOREPLUS are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic. SOURCE CoreLogicFor further information: Media, Alyson Austin, Corporate Communications of CoreLogic, +1-714-250-6180, newsmedia@corelogic.com, or Sarah Mallon of CoreLogic SafeRent Communications, +1-720-947-5589, marketing@saferent.com; or Investor Relations, Dan Smith, +1-703-610-5410, investor@corelogic.com, of CoreLogic